Long gone are the old days when computers were room sized or just a tad smaller, but still anchored to your work space. Nowadays, everyone is carrying a smartphone and spending their leisure time surfing the net and using apps. When the social media started to rise, everyone went all in.


The situation is the same with mobile apps, but the stakes are much higher now when it comes to finance. In order to make the right move, here are the 5 questions you need to ask yourself before deciding on a mobile app for your company.

1. "Are my customers asking for an app?"

A smart business owner meets all customer demands. Of course, you'd think that if some of your customers want an app, then it's something you must provide. This is true if the majority of your customers are young people, who are naturally more tech-savvy and likely to use it. However, if you're in a business where the majority of customers react to the word "app" by adjusting their hearing aid, then you're probably fine without one.

2. "Is it going to give me an edge against my competitors?"

There are two things to consider here, the first one being do your competitors have their own app? If so, then you're running late. You need to step up your game so you’re not left behind. The second thing to consider is: if you decide on an app, how is it going to be better than theirs? You'll learn that a choice of fonts, colors and images can play a big role here. Choosing the right ones depends on your line of business, so get it right and make it good. A mobile app developer might come in handy here, since you want it done right on the first try.

3. "Is it going to be worth the investment?"

It's going to be pricey, that's for sure, as it can cost anywhere from $3000 to $5000, or more. But it is an investment for the future. It brings your customers convenience, and convenience means more customers. It also brings another layer of security to your business - since most business apps feed the centralised base, your data will always be stored safely on a remote server, no matter what happens to the input unit.

The only thing left is to calculate if the extra customers are going to cover the app development cost in a reasonable amount of time.

4. "Will it help your staff?"

A long time ago, if people wanted to take out money from the bank, they had to stand in lines, fill out forms, etc... That was a huge time-waster for both parties. Now we have ATMs. Think of a mobile app as a cooler version of an ATM: it will surely save your customers time, but you also need to think about your own staff as well. If your app is going to save their time, it leaves them with an opening to do other, more important and productive work for your company.

5. "Is now the right time for it?"

Remember how cool it was when you got your CD player and then very soon you had to buy something new, because DVDs came out, then the Blu-ray... It's the same with app development and new features, only way, way faster. If you're getting an app just to have one, you might be making a mistake as something new might come out shortly after. However, if you're the only one in your field who's getting it, it might give you a head start.

Image credit: Klas